Updated guidance clarifies Major Exporter Scheme rules

The Inland Revenue Authority of Singapore (IRAS) has updated its e-Tax guide for the Major Exporter Scheme (MES), outlining the GST treatment and conditions for approved businesses.
Under MES, approved GST-registered businesses can suspend GST on imports of non-dutiable goods, which applies to various scenarios including importing their own goods, goods belonging to overseas principals, re-imports, and removals from ZG warehouses.
Eligibility for MES requires businesses to be GST-registered, solvent, import goods in their business course, meet specific thresholds for zero-rated supplies (over 50% of total or S$10 million), and adhere to a de minimis threshold for exempt supplies.

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